Activities of Jonás FERNÁNDEZ related to 2023/0076(COD)
Shadow opinions (1)
OPINION on the proposal for a regulation of the European Parliament and of the Council amending Regulations (EU) No 1227/2011 and (EU) 2019/942 to improve the Union’s protection against market manipulation in the wholesale energy market
Amendments (10)
Amendment 43 #
Proposal for a regulation
Article 1 – paragraph 1 – point 3
Article 1 – paragraph 1 – point 3
Regulation (EU) No 1227/2011
Article 3 – paragraph 1 – subparagraph 2
Article 3 – paragraph 1 – subparagraph 2
The use of inside information by cancelling orders or amending an order concerning a or modifying an existing order, the establishment of links or dependencies between orders, or any other action relating to entering into transactions of issuing orders, concerning a wholesale energy product to which the information relates, where the order was placed before the person concerned possessed the inside information, shall also be considered to be insider trading.;
Amendment 47 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Regulation (EU) No 1227/2011
Article 5a – paragraph 1
Article 5a – paragraph 1
1. A market participant that engages in algorithmic trading shall have in place effective systems and risk controls suitable to the business it operates to ensure that its trading systems are resilient and have sufficient capacity, are subject to appropriate trading thresholds and limits and prevent the sending of erroneous orders to trade or the systems otherwise functioning in a way that may create or contribute to a disorderly market or unnecessary market volatility. The market participant shall also have in place effective systems and risk controls to ensure that the trading systems comply with this Regulation and with the rules of an organised market place to which it is connected. The market participant shall have in place effective business continuity arrangements to deal with any failure of its trading systems and shall ensure its systems are fully tested and properly monitored to ensure that they meet the requirements laid down in this paragraph.
Amendment 48 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Regulation (EU) No 1227/2011
Article 5a – paragraph 2 – subparagraph 3
Article 5a – paragraph 2 – subparagraph 3
The market participant shall arrange for records to be kept for a period of 10 years in relation to the points referred to in this paragraph and shall ensure that those records are sufficient to enable its national regulatory authority to monitor compliance with this Regulation.
Amendment 51 #
Proposal for a regulation
Article 1 – paragraph 1 – point 6
Article 1 – paragraph 1 – point 6
Regulation (EU) No 1227/2011
Article 5a – paragraph 3 – subparagraph 3
Article 5a – paragraph 3 – subparagraph 3
The market participant shall arrange for records to be kept for a period of 10 years in relation to the matters referred to in this paragraph and shall ensure that those records be sufficient to enable its national regulatory authority to monitor compliance with this Regulation.
Amendment 58 #
(da) acts are being or have been carried out on wholesale energy products, which in the assessment of the Agency, are likely to have or have had a significant detrimental impact on the functioning of the internal energy market.
Amendment 59 #
Proposal for a regulation
Article 1 – paragraph 1 – point 14 – point b
Article 1 – paragraph 1 – point 14 – point b
Regulation (EU) No 1227/2011
Article 13 – paragraph 7
Article 13 – paragraph 7
7. Upon completion of its actions taken to exercise its powers pursuant to paragraph 4, the Agency shall draw up a report. The report shall be made public taking into account confidentiality requirements. If the Agency concludes that a breach of this Regulation took place, it shall inform the national regulatory authorities of the Member State or Member States concerned accordingly and require that the breach be dealt with in accordance with Articles 18. The Agency mayshall recommend certain follow-up to the relevant national regulatory authorities, and, where necessary, inform the Commission.;
Amendment 61 #
Proposal for a regulation
Article 1 – paragraph 1 – point 15
Article 1 – paragraph 1 – point 15
Regulation (EU) No 1227/2011
Article 13a – paragraph 4
Article 13a – paragraph 4
4. In sufficient time before the inspection, the Agency shall give notice of the inspection to the national regulatory authority and other concerned authorities of the Member State where the inspection is to be conducted. Inspections under this Article shall be conducted provided that the relevant authority has confirmed that it does not object to those inspections.
Amendment 62 #
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Regulation (EU) No 1227/2011
Article 15 – paragraph 1
Article 15 – paragraph 1
Any person professionally arranging or executing transactions in wholesale energy products who reasonably suspects that an order to trade or a transaction, including any cancellation or modification thereof, whether placed or executed on or outside a trading venue, might breach Article 3, 4 or 5 shall notify the Agency and the relevant national regulatory authority without further delay, and no later than four weeks from the occurency of the breach.
Amendment 63 #
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Regulation (EU) No 1227/2011
Article 15 – paragraph 2 – introductory part
Article 15 – paragraph 2 – introductory part
Amendment 64 #
Proposal for a regulation
Article 1 – paragraph 1 – point 16
Article 1 – paragraph 1 – point 16
Regulation (EU) No 1227/2011
Article 15 – paragraph 2 – point b a (new)
Article 15 – paragraph 2 – point b a (new)
(ba) prevent, detect and report suspicious orders and transactions;